The soy complex continues its downward path based on rains in south america. The pressure may subside for a minute based on tomorrow being a Friday. Also the weather may turn a bit dry. This in my opinion will not be enough to affect a large enough area. The global stocks are massive. However rallies now present hedging opportunities and should be taken as such. The meal market in the long run may continue to be the weakest link of the complex. The demand will remain for beans. To be crushed for the by product . This will shut down the demand for the meal. The oil is not bullish flat price, but a floor of demand remains under the market that is significant. I would like to think the oil share can continue to gain. On a broader note the crush margins have been in rich territory for a long time. This to may be coming to a end. Lets see what transpires overnight. Be Well
